Hubbell Incorporated (NYSE:HUBB) Receives $464.88 Consensus Price Target from Analysts

Shares of Hubbell Incorporated (NYSE:HUBB) have been given a consensus rating of “Hold” by the eight research firms that are presently covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $464.88.

Several equities research analysts recently issued reports on the company. StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Wells Fargo & Company cut their price target on Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Barclays cut their price target on Hubbell from $475.00 to $422.00 and set an “equal weight” rating for the company in a research note on Monday, March 3rd. Finally, Deutsche Bank Aktiengesellschaft cut Hubbell from a “buy” rating to a “hold” rating and cut their price target for the company from $493.00 to $473.00 in a research note on Tuesday, November 26th.

Hubbell Trading Down 2.4 %

Shares of NYSE:HUBB opened at $335.96 on Friday. Hubbell has a 12-month low of $330.32 and a 12-month high of $481.35. The stock has a market cap of $18.03 billion, a PE ratio of 23.40, a P/E/G ratio of 1.34 and a beta of 0.95. The business has a 50 day moving average of $393.80 and a 200-day moving average of $420.99. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.44.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.02 by $0.08. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the previous year, the company posted $3.69 earnings per share. The business’s revenue was down .9% on a year-over-year basis. As a group, equities research analysts forecast that Hubbell will post 17.63 earnings per share for the current year.

Hubbell declared that its Board of Directors has approved a stock repurchase plan on Wednesday, February 12th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the industrial products company to repurchase up to 2.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were given a dividend of $1.32 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $5.28 annualized dividend and a yield of 1.57%. Hubbell’s dividend payout ratio is currently 36.77%.

Insider Buying and Selling at Hubbell

In other news, insider Alyssa R. Flynn sold 1,164 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $389.06, for a total transaction of $452,865.84. Following the completion of the transaction, the insider now directly owns 4,327 shares in the company, valued at approximately $1,683,462.62. This represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.78% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System increased its holdings in shares of Hubbell by 1.2% during the fourth quarter. California State Teachers Retirement System now owns 81,619 shares of the industrial products company’s stock worth $34,189,000 after buying an additional 980 shares in the last quarter. Siemens Fonds Invest GmbH increased its holdings in shares of Hubbell by 2,390.4% during the fourth quarter. Siemens Fonds Invest GmbH now owns 14,021 shares of the industrial products company’s stock worth $5,873,000 after buying an additional 13,458 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Hubbell in the fourth quarter valued at $13,908,000. Great Valley Advisor Group Inc. increased its holdings in Hubbell by 8.1% in the fourth quarter. Great Valley Advisor Group Inc. now owns 11,215 shares of the industrial products company’s stock valued at $4,698,000 after purchasing an additional 836 shares during the period. Finally, Challenger Wealth Management acquired a new stake in Hubbell in the fourth quarter valued at $293,000. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Hubbell Company Profile

Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and utility solutions in the United States and internationally. It operates through two segments, Electrical Solutions and Utility Solutions. The Electrical Solution segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures, and other electrical equipment for use in industrial, commercial, and institutional facilities by electrical contractors, maintenance personnel, electricians, utilities, and telecommunications companies, as well as components and assemblies.